Category: Venezuela

Venezuela’s Natural Gas, Not Oil, Might Be a Big Early Prize

The New York Times – Business:
The South American country has natural gas that could be extracted and exported quickly, but U.S. sanctions, which are now being eased, have stymied development.
U.N. Says It’s in Danger of Financial Collapse Because of Members’ Unpaid Dues

The world body warned it would run out of money by July and have to close its New York headquarters if countries, namely the United States, did not pay annual dues that amount to billions of dollars.
Chevron Points to Venezuela’s Promise as Big Oil Earnings Fall

The two largest U.S. oil companies, Chevron and Exxon Mobil, reported their lowest annual profits in years.
Venezuelan Lawmakers Approve Sweeping Overhaul of Oil Sector

Bowing to Trump administration pressure, the new legislation improves conditions for foreign oil companies and opens the way to slash the taxes they pay.
Trump Wants U.S. Investment in Venezuela, but Sanctions Still Complicate It

With tight business restrictions still in place, companies may find it challenging to even assess what opportunities exist for them in the South American nation.
Big Oil’s Complicated Calculus for Investing in Venezuela

The industry has long prioritized projects with quick and reliable payback. Trump is pushing for a return to risk.
Trump Vows to Make Venezuela Rich. It Will Take More Than U.S. Cash.

History suggests that the price of oil and a wider distribution of wealth are as important as foreign investment.
James Luckey-Lange Among Americans Freed in Venezuela

James Luckey-Lange, 28, was released this week with several other U.S. citizens from the country’s notorious prison system after going missing in December, his family said.
U.S. Refiners to Profit as Trump Asserts Control Over Venezuelan Oil

The companies that turn oil into gasoline and diesel are likely to benefit more, right away, than the businesses that pump oil out of the ground.
Venezuela’s Oil Riches Are Years Off, but Winners and Losers Will Emerge

Companies that already have operations in the country stand to benefit, but those that have profited from a standoff between Caracas and Washington could lose out.
Trump’s $100 Billion Venezuela Oil Plan Gets a Cool Reception

President Trump met with oil and gas executives on Friday in an effort to push them to invest money in Venezuela, a plan many of them are reluctant to embrace.
Venezuela’s Oil Industry: A Timeline of Key Events

The country’s oil industry has undergone major shifts and two waves of nationalization since its first well started pumping in 1914.